On Day 2, U.S. President Trump announced that the United States had reached a trade agreement with Vietnam.
Trump posted on the social media platform “Truth Social” on that day, announcing the agreement with Vietnam, saying “Details will be released later!”
Trump then posted again, stating that all goods exported from Vietnam to the United States will face at least a 20% tariff and be “fully open to the market” in the United States.
Later that day, Vientiane Times reported that General Secretary of the Communist Party of Vietnam Su Lin spoke with Trump by phone about issues related to relations between Vietnam and the United States as well as tariff negotiations between the two countries. Trump emphasized that the United States will continue to work with Vietnam to address issues affecting bilateral trade. Su Lin suggested that the U.S. side recognize Vietnam’s market economy status as soon as possible and lift export restrictions on some high-tech products from Vietnam to the United States.
Trump’s tariff policy is impacting the global economy.